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Moody's shifts Piraeus Financial view to positive
Moody's Investors Service said it changed the outlook to positive from stable and affirmed Piraeus Financial Holdings SA's Caa3 long-term issuer rating.
The decision to change the outlook is driven by the recent successful share capital increase of €1.4 billion that will help Piraeus Bank SA improve its asset quality and solvency over the next two years, Moody’s noted. Piraeus Financial is the non-operating holding company for the bank.
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